Auction & Auctioneer Information

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Saturday, June 7th through Friday, June 13th, 2014, 12-5 pm and by appointment. Open until 7 pm on Friday, June 13th. Doors open at 9 am the day of the sale.

Buyer's Premium

28%

Terms & Conditions

Questions? Contact Miriam Tucker, Managing Partner
miriam@ragoarts.com
Rago Arts and Auction Center (Hereafter referred to as "the Auction House").
609-397-9374 (p) / 609-397-9377 (f)
All bidders are responsible for reading and understanding these Terms of
Sale, as well as any supplemental notices. If you have any questions after
having read the Terms of Sale, please contact the C.E.O., Miriam Tucker, at
mtucker@ragoarts.com or 609.397.9374, extension 141.
All items in our Unreserved Auctions are "As-Is, Where-Is."
1. General
Each lot in this catalogue is offered for sale subject to the terms set out
below, as changed or supplemented by provisions a) written in other places
within these Terms of Sale, b) in written supplements to this Catalogue or
other materials prepared by us and c) as stated by the auctioneer or posted
in writing at the auction, prior to a bid being accepted for a lot. No other
communications by any employee of the Auction House is intended to be
binding, and such communications are made for informational purposes only.
By bidding at the auction the buyer and all bidders agree to be bound by
these terms or those changed and supplemented, whether bidding in person,
through a representative, by phone, by internet, or other absentee bid.
Upon the fall of the auctioneer's hammer, the successful bidder becomes the
buyer and owner of the property and is responsible for the property, the
amount of the successful bid, the buyer's premium, applicable taxes, and
other charges provided for in the Terms of Sale in U.S. Dollars, payable
immediately.
The thirty (30) day warranty shall commence on the date of sale and continue
to run without any tolling even if the Buyer within that thirty (30) day
period 1) fails to inspect or pay, 2) requests delay in shipment, 3)
provides incorrect shipping address or information or 4) is unavailable to
receive shipment.
Sales Results: Preliminary results will be available online shortly after
each sale at www.ragoarts.com. Final sales results will be available as soon
as the Auction House has audited and verified all sales, usually within one
day of the auction.
The Auction House retains all rights to photographs and other intellectual
property contained in this catalogue.
2. Auctioneer's Determination Final
A lot will be sold to the highest bidder as determined in the sole and
exclusive judgment of the auctioneer. The auctioneer will also have the sole
and exclusive power and authority to a) resolve any disputes between
bidders, b) determine whether to pass or re-offer a lot for sale, c) reject
or challenge any bid or advance in the bidding, d) exclude any bidder from
the premises and e) otherwise regulate the bidders, the bidding and its
increments.
3. Buyer's Premium, Purchase Price, Taxes, and Billing
The buyer's premium for each lot purchased is 25% on the first $75,000 of
the hammer price, 20% on the portion from $75,001 through $1,500,000, and
12% on that portion of the hammer price exceeding $1,500,000.
A cash discount of 3% off the 25% buyer's premium will be applied for
property purchased by cash, check, wire transfer or money order if payment
is received within 15 days of sale. This effectively lowers the 25% buyer's
premium to 22%. No discount will be taken off the lower buyer's premium
apportioned for lots that sell at $75,001 and above.
On all online bidding platforms, a buyer's premium in the amount of 28% of
the successful high bid will be levied. A cash discount of 3% off the 28%
buyer's premium will be applied for property purchased by cash, check, wire
transfer or money order if payment is received within 15 days of sale. This
effectively lowers the 28% buyer's premium to 25%. No discount will be taken
off the lower buyer's premium apportioned for lots that sell at $75,001 and
above.
Taxes: If you are shipping to a New Jersey address or if you pick up the
lots you have won at our New Jersey location, you must pay the State's 7%
sales tax. The only exception is for those who hold a valid resale license
and file the completed New Jersey State Sales Tax Form (New Jersey Seller's
Certificate Form ST3 or Non New Jersey Seller's Certificate Form ST-3NR)
with Rago at time of payment. No New Jersey sales tax is charged for
purchases shipped out of state.
Billing: All successful bidders will be sent invoices by e-mail or mail (if
we do not have an email address on file) within the two business days that
follow the auction.
4. Methods of Payment and Fees
Cash. Check. Wire Transfers. Money Order. Visa. MasterCard. Discover.
PayPal.
All payments are due immediately upon receipt of invoice. We reserve the
right to hold all goods paid for by check until payment has cleared.
If payment is not received within fifteen (15) days, the Auction House
reserves the right to impose from the date of sale a late charge of 1 1/2% a
month of the total purchase price and deny all future credit.
5. Payment, Collection, and Shipping Responsibilities of Buyer
Buyer Obligations: On the fall of the auctioneer's hammer, title to the
property immediately transfers to the successful bidder who, in turn,
becomes the buyer of the Property. The buyer immediately assumes full risk
and responsibility for the purchased Property, including all costs and
expenses of handling, shipping, insurance, taxes, export, and otherwise, and
is liable for the full purchase price, plus the buyer's premium, applicable
taxes, and any other associated expenses.
Collection of Property and Storage Charges: The buyer will pay for the
purchased Property immediately and remove it from the premises of the
Auction House within fourteen (14) days of the sale. We are not responsible
for any damage or loss on property purchased but not removed from premises.
If the purchased Property is not removed within thirty (30) days of the
sale, the buyer will thereafter be assessed a $10 per lot storage charge per
day. The Auction House may, at its discretion, remove the purchased Property
to public storage at the buyer's risk and expense. All associated charges
will be added to the total invoice and must be paid in full before the
Property will be released.
Those who choose to pick up their property from the Auction House following
the sale must call 24 hours in advance to arrange pick-up. Regular hours for
pick up are Monday - Friday, from 9:00 a.m. - 11:30 a.m. and from 1:30 p.m.
to 5:00 p.m. Please bring your own packing materials. The Auction House is
closed on Federal holidays and on Mondays following full auction weekends.
Weekend pick-ups are made by special arrangement and/or by appointment only.
Note: New Jersey sales tax of 7% must be added to your invoice when picking
up merchandise unless you have a valid resale number on file.
The buyer is responsible for the shipment of all purchased property. We will
work with any shipper of your choosing. If you have any shipping preference
for any reason, please make sure your shipper carries insurance. We are not
responsible for any damage or loss that occurs while your objects are in
another's care. We will also not be responsible for any damage or loss that
occurs if you choose a shipping method that we have advised against and we
will require a waiver from you acknowledging this.
As a convenience to the buyer, the Auction House will, if requested, give
your property to a third party shipper. This company will pack and ship or
arrange shipment for you via UPS, FedEx or other carrier, fully insured, for
a fee payable in advance by credit card. Shipments are made within a few
days after payment has been received.
All international customs, duties, and other tariffs are the responsibility
of the Buyer. The Auction House and all third party shippers will declare
the selling price as the value in all cases.
Shipping larger items: Larger items are objects such as furniture, andirons,
floor vases, or any other item whose safe packing will exceed the limits of
common carriers. The Auction House can arrange delivery by freight almost
anywhere in the United States, fully insured, for a fee. The delivery of
large, heavy, or expensive objects is not an inexpensive proposition and we
urge you to consider this before bidding.
Firearms: Rago sells only antique firearms as defined by the U.S. Bureau of
Alcohol, Tobacco and Firearms. Due to New Jersey firearms regulations, all
handguns, pistols, and revolvers will only be shipped via Federal Express
and will only be delivered to a person who holds a Federal Firearms License
or a Curios and Relics License. Handguns, pistols, and revolvers can only be
picked up at Auction House by a person who holds a Federal Firearms License
or the proper New Jersey handgun permits, which must be shown and logged.
There are no exceptions. No firearms will be sold or shipped
internationally.
Property purchased and left at the auction house for 90 days will be sold or
donated for you.
6. Buyer Default
Remedies: If any of the Terms of Sale are not fully complied with by the
buyer, the buyer will be in default without need of notice by the Auction
House. The buyer shall be liable to the Auction House and the consignor for
the total purchase price, including all premiums, charges, and expenses
specified in the Terms of Sale. Interest shall accrue at the rate of 18% per
annum commencing with the date of the auction. In addition to other remedies
available to the Auction House by law, the Auction House may, at its option,
a) cancel the sale of the lot(s) on which the buyer defaulted and of any
other lots sold to the defaulting buyer at the same or any other auction(s)
and retain as liquidated damages all payments made by the buyer, b) resell
the purchased Property, whether at public auction or private sale, or c)
pursue any combination of a) and b) above. In event of default, the buyer
will be responsible to the Auction House and the consignor for any
deficiency, any and all costs and expenses, including reasonable attorneys'
fees, collection fees and expenses, late charges, and other damages. The
Auction House may, at its discretion, apply any proceeds of sale otherwise
due to the buyer or monies of the buyer in the Auction House's possession to
reduce or satisfy the buyer's obligations.
Security Interest: As security for full payment to the Auction House and the
consignor of all amounts due, the buyer grants the Auction House the right
to retain a security interest in the Property purchased at auction and in
any other property or money of buyer in the Auction House's possession or
coming the Auction House's possession (collectively, 'collateral'). The
Auction House shall have the rights of a secured creditor as provided by the
Uniform Commercial Code and other applicable law. Such security interest in
the Property or other collateral will cease when the Property is physically
delivered to the buyer or the buyer's agent.
7. Warranties and Guarantees
All items are served "As-Is, Where-Is," except as expressly stated otherwise
in the following paragraph:
All information in the catalogue concerning authenticity is guaranteed for a
period of thirty (30) days from the date of sale. In that time, prior to
payment to the consignor of the work, the Auction House will allow the buyer
to submit, at his own expense, an opinion in writing from a recognized
expert, pre-approved by the Auction House and the purchaser, regarding
authenticity. In the event the work is judged inauthentic by the expert, the
work may be returned in the same condition as at time of sale and the
buyer's full purchase price will be refunded. Refunds shall not include
costs of transportation, insurance, or other expenses that may have been
incurred by the buyer. It is the buyer's responsibility to make payment in a
timely fashion such that the property can be released and inspected within
this thirty (30) day time frame. Should the buyer not do so, or should the
buyer request the auction house to delay shipment, should he give an
incorrect shipping address, or be unavailable to receive shipment, the
thirty (30) day warranty shall still apply. If the Auction House has paid
the consignor the amounts due consignor as a result of the sale, the Auction
House will (i) refund to the buyer the amount of the buyer's premium and
applicable taxes received from the buyer, and (ii) make written demand upon
the consignor for the payment of the balance of the purchase price. If the
consignor fails to honor the written demand for a refund of the balance of
the purchase price, the Auction House will furnish buyer the name and
address of the consignor, and assign to buyer all of the Auction House's
rights for the return of the balance of the purchase price of the affected
lot. Upon this disclosure and assignment, the Auction House will have no
further liability to buyer or responsibility to pursue the buyer's claim.
The Auction House will extend reasonable cooperation to buyer, provided that
such cooperation does not require out-of-pocket expenditures by the Auction
House. This limited right of rescission is available only to the original
buyer and may not be relied upon by any heir, agent, transferee, assign, or
other third party or assigned to any subsequent transferee of the Property
which gives rise to the claim.
This Warranty does not cover any description that states there is a conflict
of specialist opinion; any description that states (or is bracketed in a
section described as) "as-is" or "not guaranteed."
This Warranty does not cover any typographical errors. This Warranty does
not cover wear on furniture. This Warranty does not cover flakes, surface
scratches, or manufacturing flaws in glass or ceramics.
The description of clocks and lighting devices, whether in catalogues or
condition reports, may be incomplete and not identify every mechanical
replacement, repair, or defect. The absence of reference to the condition of
a clock or lighting device does not imply it to be in working condition or
without defects, repairs, restorations, or replacement parts.
The description of jewelry, whether in catalogues, condition reports, or any
other form, is rendered as opinion, including, but not limited to,
specialist opinion as to authenticity, the enhancement or treatment of
gemstones, the weight of gemstones, the country of origin, the authorship or
origin (manufacture) of an item, its period (or c.) or the authenticity of
its marks.
No warranty is made that any watch is in working condition or without
defects, restorations, or working parts.
Buyers are advised to check watch works prior to auction.
All measurements are approximate.
This disclaimer of liability on our part applies whether the information is
included in the catalogue, advertisements, announcements, or communicated
through our representatives, bills of sale, or elsewhere, and whether
written or oral.
No Warranty of Reproduction: Neither the consignor nor we make any warranty
or representation, express or implied, as to whether a buyer will acquire
any reproduction rights, copyrights or other intellectual property rights
in, or with respect to, the Property.
The Auction House makes no warranties, express or implied, as to the
merchantability or fitness for purpose except as otherwise expressly stated
in these Terms of Sale.
8. Qualifying to Bid
As a security measure for our consignors and our company, all bidders must
establish credit. You will be asked to furnish identification and a valid
credit card number, credit references and/or (for absentee, phone and online
bidders) an initial deposit in the form of a pre-authorization hold equal to
10% of the low estimate of the total number of lots on which you are
bidding. First time and international buyers bidding on Asian lots with a
total low estimate of $5,000 or greater will be asked to a) furnish an
initial deposit in the form of a pre-authorization hold equal to 30% and b)
grant the Auction House the right to charge your credit card 30% of the
selling price on the day of sale. If you are acting as another's agent or
principal, we may request a letter of authorization. If you are successful
and do not remit payment as specified, the amount owed will be charged to
your credit card together with such charges set forth in these terms of
sale. If you have any questions, contact Eliane Talec, ext. 118.
Bidding Numbers: All bidders must register and receive a bidding number from
the Auction House prior to bidding at the auction.
9. Bidding Increments
All unreserved bidding starts at 50% of the low estimate unless there are
two or more competing absentee bids in excess of this figure. The auctioneer
has the sole and exclusive power, discretion, and authority to regulate the
bidding and its increments.
Increments
* $10 until $100 is reached
* $25 until $500 is reached
* $50 until $1,000 is reached
* $100 until $3,000 is reached
* $250 until $5,000 is reached
* $500 until $10,000 is reached
* $1,000 until $30,000 is reached
* $2,500 until $50,000 is reached
* $5,000 until $100,000 is reached
* $10,000 over $100,000
10. Absentee Bids
Absentee bids are requested by no later than 6:00 p.m. on the business day
before the auction. We accept absentee bids by phone, by mail, in person, or
by fax. Absentee bidders are emailed bid confirmations - If you do not
receive a bid confirmation by the afternoon prior to the auction, please
call us. When you do receive a bid confirmation, please double check for
accuracy.
All absentee bidding is handled as though you are in attendance. We buy all
designated lots for you one bidding increment above where competition stops.
Please check and comply with these increments. In case of failure to comply,
we will reduce each off-increment bid to the next lower figure.
"Plus" bids: Because of our structured bidding increments, it is more likely
that several people will leave identical bids. Since an earlier bid left
with the auction house wins in the event of a tie, a later bid with an added
"plus" bid to the next increment would win the piece.
Absentee bids left on online bidding platforms other than the one at
ragoarts.com are sent to the auction house during the actual sale. There is
no time advantage to these bids at all.
All absentee bidder names and bids are held in strictest confidence,
disclosed only in the event of a question after the sale.
Absentee bidding is a convenience offered to our customers and, while we
will make every effort to execute your instructions, the Auction House is
not liable or responsible for any errors or failure to do so. If you place
absentee bids with the Auction House, then choose to attend in person, bid
by phone or any other means, it is solely your responsibility to cancel any
or all absentee bids prior to the start of the auction.
11. Telephone Bids
Rago guarantees you a line and a phone agent for bidding until 4 PM on the
day prior to an auction. After that time, we will gladly accept your
absentee bids, even during the auction (up to 30 minutes before a lot goes
on the block). Changes to bid lists left with us prior to the deadline will
always be accommodated as best we can, as will follow-up phone bids for
those who attend/must leave the auction and other exceptional cases.
If you need condition reports, please request and review them prior to
reserving phone lines.
Telephone bidders are emailed bid confirmations - If you do not receive a
bid confirmation by the afternoon prior to the auction, please call us. When
you do receive a bid confirmation, please double check for accuracy.
We can call you at two phone numbers ONLY during the auction. If you are
unsure of where you or your agent will be during the sale, we recommend you
leave absentee bids.
Please do not change your phone number after your phone lines have been
confirmed; if you do, the Auction House will not be responsible for any
breakdown in communications. Overseas phone numbers only will be confirmed
the day before the auction.
We do not have the capacity to assign phone agents to clients who want to
listen only or who will not bid the minimum selling price. Therefore, if you
bid by phone, you must be willing to open bidding and bid to within 2/3 of
the low estimate should the bidding go that far. You may, however, leave
absentee bids for any amount.
Bids are placed on the telephone at the discretion of the Auction House and
at the caller's risk. Telephone bidding is a convenience offered to our
customers and, while we will make every effort to execute your instructions,
the Auction House is not liable or responsible for any errors or failure to
do so.
If you place absentee bids with the Auction House or Live Auctioneers and
also bid in person, by phone or any other means, it is solely your
responsibility to cancel any or all absentee bids prior to the start of the
auction. If you do not or cannot, regardless of reason, you will be held
responsible for the property's purchase.
12. Internet Bids
The Auction House has engaged the services of a third party online bidding
platform called Live Auctioneers. Please proceed to liveauctioneers.com for
all necessary information on how to bid and buy online using this system.
The user of Live Auctioneers indemnifies and holds the Auction House and its
consignors harmless against any claim arising out of or resulting from your
use of the Live Auctioneers site, including all losses, damages,
liabilities, and all fees (including attorney's fees), costs, and expenses
incurred in connection with any claim. Under no circumstances, including,
but not limited to, negligence, shall the Auction House and its consignors
be liable for lost profits or any special, incidental, or consequential
damages that result from the use of, or the inability to use, this site.
If you place absentee bids with the Auction House and/or Live Auctioneers
and also bid in person, by phone or any other means, it is solely your
responsibility to cancel these absentee bids prior to the start of the
auction. If you do not or cannot, regardless of reason, you will be held
responsible for the property's purchase.
Absentee bids left with Live Auctioneers are released to the Auction House
when a lot comes up for sale. The Auction House cannot distinguish these
from bids made in real time. They have no timed advantage.
13. Condition Reports
Condition reports are rendered as specialist opinion by the staff of the
Auction House and/or independent consultants and not as statements of fact.
We do not guarantee the content of written or verbal condition reports.
Up-to-date condition reports can be accessed online at ragoarts.com. If you
would like additional information, please call (609) 397-9374, fax condition
report requests to (609) 397-9377 or e-mail them to info@ragoarts.com. Our
specialists will respond to requests as quickly as possible.
Please be patient. We get many requests and we make every effort to respond
to all of them in a timely fashion. The Auction House is not liable or
responsible for any errors or failure to do so.
14. Reserves
A reserve is the confidential minimum price established by the Auction House
and the consignor. The reserve will never exceed the low estimate of the
lot. The Auction House prohibits consignors from bidding on their own
property, but may implement the reserve by bidding on behalf of the
consignor at the auction up to the reserve.
15. Estimates
The estimates provided in this catalogue are our opinion of the price that a
willing buyer would pay for the property at auction, based, where possible,
on prices paid for comparable items sold in the past. They are neither a
representation nor a prediction of the actual selling price that will be
realized at auction, post-auction sale, or upon resale, which may be
substantially different from these estimates. We shall not be liable in any
way for such a difference.
16. Withdrawal of Property from Sale
The Auction House reserves the right to withdraw property from the sale for
any reason and with no liability whatsoever for such withdrawal.
17. Rescission by Buyer
All items are served "As-Is, Where-Is," except as expressly stated otherwise
in Paragraph 7. Buyer acknowledges and expressly agrees that the provisions
of this Paragraph state the sole and exclusive remedy available to a buyer
in the event of non-conformity in Property purchased. The buyer understands
and agrees that the exclusive remedy for any breach of the warranty shall be
a rescission of the sale and a refund of the original purchase price (bid
plus buyer's premium), as well as any applicable taxes paid. Neither the
Auction House nor its Consignor shall be liable for damages beyond the
remedy expressly provided for herein, such as, but not limited to, direct,
indirect, special, incidental, punitive, or consequential, including the
loss of profit or revenue, cost of obtaining alternative property, claims of
customers of the buyer or otherwise.
18. Rescission by the Auction House
In the event the Auction House receives notice of an adverse claim with
respect to purchased Property, the Auction House shall have the right (but
not the obligation), in its sole and absolute discretion, to rescind the
sale to the buyer, upon written notice to the buyer. Upon such notice, the
buyer will promptly return the purchased property to the Auction House's
premises in the same condition as when purchased.
The Auction House will then promptly refund the purchase price, including
the buyer's premium and applicable taxes paid. Buyer will have no further
recourse against the Auction House or the consignor, and the Auction House
and the consignor shall not be liable for any damages of any nature suffered
by the buyer.
19. Governing Law and Forum for Disputes
The laws of New Jersey shall govern the auctions of the Auction House. Any
disputes that may arise in connection with the auction and/or any auction
purchase, and all of the terms and conditions set forth herein above, shall
be governed by and construed in accordance with New Jersey law. Anyone who
participates in the auction and/or makes auction purchases agrees to submit
to the jurisdiction of the courts of the State of New Jersey with respect to
any dispute arising in connection with the auction and/or any auction
purchases. In the event that the Auction House needs to bring an action to
enforce the terms and conditions herein and/or to collect any sum due and
owing to it the Auction House shall be entitled in addition to collect its
reasonable attorney's fees, collection agency fees, and cost of suit.
20. Limitations of Liability
The Auction House acts only as the agent for the consignor and in no event
will be liable for any breach or default by the consignor.
21. Severability and Waiver
If any provision of portion of these Terms of Sale shall be deemed unlawful,
void, or unenforceable under applicable law, that provision or portion shall
be stricken and severed from the remaining provisions, which shall remain in
full force and effect. Failure to enforce any of the provisions in these
Terms of Sale shall not be deemed a waiver of the right to enforce any other
provisions of these Terms of Sale.
22. No Assignment
Unless the Auction House consents in writing, buyers may not assign their
rights or any of their obligations related to an auction or other sale by
the Auction House.
23. No Modifications
These Terms of Sale may not be changed unless the Auction House and buyer
have agreed to do so in a written agreement signed by both parties.
24. Export or Import
It is the sole responsibility of buyers to familiarize themselves with
International and U.S. laws or requirements for import and export; to
identify and obtain any necessary export, import, endangered species or
other permit prior to bidding; and to abide by International and U.S. laws
and requirements. The Auction House and the Consignor make no
representations or warranties as to whether any lot is or is not subject to
export or import restrictions or any embargoes and will have no
responsibility with regard to these matters. a) International: Several
countries do not allow the importation of lots containing materials made
from endangered species. This includes, but is not limited to, ivory, coral
and tortoiseshell. An export license may be required for the export of
certain materials, as well. b) State of California: California Penal Code
sections 653o - 653r make it illegal to import into California for
commercial purposes, to possess with intent to sell, or to sell within the
state, the dead body, or any part or product thereof, of any polar bear,
leopard, ocelot, tiger, cheetah, jaguar, sable antelope, wolf (Canis lupus),
zebra, whale, cobra, python, sea turtle, colobus monkey, kangaroo, vicuna,
sea otter, free-roaming feral horse, dolphin or porpoise (Delphinidae),
Spanish lynx, or elephant. Starting in 2015, it will be unlawful to import
into this state for commercial purposes, to possess with intent to sell, or
to sell within the state, the dead body, or any part or product thereof, of
any crocodile or alligator. Should a buyer in California state an intent to
sell the certain animal parts named in California Penal Code sections 653o -
653r, the Auction House reserves the right to reject bids and refuse to
ship. Note: Private ownership in California is not currently restricted.
25. Firearms
Rago sells only antique firearms as defined by the U.S. Bureau of Alcohol,
Tobacco and Firearms. All Firearms will be sold in accordance with State of
New Jersey and Federal firearms laws and any relevant State of New Jersey
and Federal laws. It is the sole responsibility of buyers to familiarize
themselves with their local laws and requirements for the possession of
firearms; to identify and obtain any necessary license or permit prior to
bidding; and to abide by all Federal, State and local laws and requirements.
The Auction House and the Consignor make no representations or warranties as
to whether any lot is or is not subject to such restrictions and will have
no responsibility with regard to these matters. Rago sells only antique
firearms as defined by the U.S. Bureau of Alcohol, Tobacco and Firearms. Due
to New Jersey firearms regulations, all handguns, pistols, and revolvers
will only be shipped via Federal Express and will only be delivered to a
person who holds a Federal Firearms License or a Curios and Relics License.
Handguns, pistols, and revolvers can only be picked up at Auction House by a
person who holds a Federal Firearms License or the proper New Jersey handgun
permits, which must be shown and logged. There are no exceptions. No
firearms will be sold or shipped internationally.
26. Miscellaneous
Private Sales: These Terms of Sale shall apply to both auction and private
sales of property.
Paragraph Headings: Paragraph and subheadings are included in these Terms of
Sale for ease of reference and should not be used to interpret the meaning
of the substantive provisions.
Addendum to Terms of Sale: Jewelry
For centuries, natural gemstones have been enhanced in a variety of ways,
including heating, oiling and other methods. These treatments are accepted
by the international jewelry and gemstone trade. The Auction House makes no
representations or warranties, express or implied, as to whether natural
stones have been treated or enhanced, whether specifically referenced or
not.
All stones have been identified by standard gemological field tests as the
mounting permits and the Auction House will make available to prospective
buyers any gemological certificates in its possession. It will not always be
feasible to obtain a qualified lab report on every stone offered through the
Auction House. Buyers wishing to have a grading or gemological report from
an independent recognized laboratory such as the Gemological Institute of
America, the European
Gemological Laboratories or the American Gemological Institute may request
one at their own expense or hire an independent adviser of their choosing.
Weights given are based solely on measurements and known gemological
formulae; they are approximate, not exact. Weight may differ once a stone is
removed from its setting. Buyers are advised to verify weight estimates
prior to auction
Addendum to Terms of Sale: Coins and Currency
Grading is a not an exact science. It is a matter of opinion as to condition
and other attributes. Because of this, grading can and will differ among
third party grading services (even though consensus grading is employed by
most), independent experts, dealers, collectors and auction houses,
including our own. Due to the subjectivity of coin and currency grading, a
given piece evaluated twice by the same expert may be assigned a different
grade each time. Opinion as to the grading, condition or other attributes of
any property may have a material effect on value.
Therefore all coins and currency are served "As-Is, Where-Is," by the
Auction House except as to authenticity, as expressly stated in the Terms of
Sale. They are sold without any additional express or implied warranty,
including, but not limited to, grade. This includes all coins and currency,
including, but not limited to, those:
* Referencing the opinion of a third-party grading service;
* With no reference to the opinion of a third-party grading service;
* With reference to the opinion of Auction House as to grading;
* Subsequently submitted to a third-party grading service for
determination or certification;
* Encapsulated and therefore unable to be physically examined.
The Auction House reserves the right to differ with the grades assigned to
property, by certificate or otherwise, regardless of the grading service and
will not be bound by any prior or subsequent opinion, determination or
certification by third-party grading services including, but not limited to,
National Guaranty Company (NGC), Professional Coin Grading Service (PCGS),
Paper Money Guaranty (PMG) and Currency Grading and Authentication (CGA) or
any other any grading service, third party organization or dealer. There is
no guarantee or warranty implied or expressed that the grading standards
utilized by the Auction House will meet the standards of any grading service
at any time in the future.
The Auction House has graded uncertified coins and currency with reference
to the current interpretation of the American Numismatic Association's
standards at the time of grading.
The Auction House reserves the right to re-grade property re-consigned for
any reasons, including, but not limited to a change of grading standards,
differences in opinion, mishandling over time.
The Auction House will not be liable for any patent or latent defect or
controversy pertaining to or arising from any encapsulated coins or
currency. In any such instance, purchaser's remedy, if any, shall be solely
against the service certifying.
Please note:
* Certain types of plastic may react with a coin's metal or transfer
plasticizer to notes, causing damage. Avoid storage in materials that are
not inert.
* Catalog illustrations may not be to scale or reflect the depicted
property's actual size.